Major Stocks Indexes End Sharply Lower as Oil Prices Extend Surge; Dow Sheds Nearly 750 Points

Adobe Shares Plunge as CEO Announces Departure

FROM 17 hr 35 min ago

Adobe has had a tough time convincing investors to support its stock. Could a new CEO win them back?

Reviving interest in the once-hot software company’s shares will soon be the responsibility of someone new: CEO Shantanu Narayen plans to step down after 18 years on the job—and as soon as a successor is found, Adobe (ADBE) said Thursday.

The news comes as the yearslong slide for Adobe’s stock continued. Shares of the Photoshop and Illustrator owner were down over 7% in extended trading following the news despite quarterly earnings that topped analysts’ estimates.

Adobe for its fiscal first quarter reported adjusted earnings per share of $6.06 on a 12% year-over-year jump in revenue to a record $6.40 billion. Both figures came in above analysts’ estimates as compiled by Visible Alpha.

The company forecast second-quarter EPS of $5.80 to $5.85 on revenue of $6.43 billion to $6.48 billion, also ahead of consensus projections.

Concern about the effects artificial intelligence could have on Adobe’s software business, along with those of other companies in the space, have weighed on the shares, contributing to a long drawdown. Shares of Adobe were down about 23% for 2026 through Thursday’s close, extending their slump over the past two years: They’ve lost roughly 60% off their 2024 highs.

“The announced CEO change adds another layer of uncertainty at a delicate moment in the story,” Citi analysts wrote Thursday.

–Kara Greenberg

Can the Dollar Store Boom—and the Low-Income American Shopper—Survive 2026?

FROM 19 hr 30 min ago

The discount stores that have benefited from inflation-pinched consumers may feel the pinch themselves this year. 

Shares of Dollar General (DG) slumped Thursday after the retailer forecast same-store sales will grow between 2.2% and 2.7% in its 2026 fiscal year, a slowdown from 3% in 2025 and slightly below analyst estimates. The outlook, the company said, reflects the “potential for continued uncertainty, particularly in consumer behavior.”

Dollar stores have experienced above-average growth in recent years, driven by middle- and high-income consumers trading down to cope with elevated inflation and slowing income growth. Dollar General’s guidance raised questions about whether mounting financial pressures are now squeezing its core low-income consumer enough to offset that.

Read the full article here.

–Colin Laidley

More ‘Fun,’ Fewer Choices, and Stuff Under $10: How Kohl’s Is Trying to Win Back Shoppers

FROM 19 hr 35 min ago

Kohl’s is in the thick of a battle for bargain hunters.

The department store company is sharpening its focus on inexpensive goods and making deals easier to spot as its turnaround campaign enters a second year. Kohl’s (KSS) is investing in lower price points and simplifying the in-store experience with signs, mannequins and less merchandise, company executives said on a conference call this week.

The retailer is concentrating on proprietary brands because focusing less on them in recent years left a “void of an opening price point,” and prompted Kohl’s credit cardholders to look elsewhere, CFO Jill Timm said. Kohl’s has ceded ground to competitors including Amazon (AMZN), Burlington Stores (BURL), Ross Stores (ROST) and TJX (TJX), likely losing a third its market share from 2013 to 2024, by UBS’ estimate.

“We know that our customer, particularly the low- to middle-income customer, is going to over-penetrate in these value brands,” said Timm, according to a transcript made available by AlphaSense. “So we need to bring that to them.”

Read the full article here.

–Sarina Trangle

Gas Prices Continue Rising—See What Your State Is Paying Now

FROM 20 hr 19 min ago

Oil prices are extending their surge that began at the start of March, triggered by the Iran conflict. That escalating price for crude is continuing to filter through to drivers across the country.

The national average for regular gas rose another 2 cents overnight to $3.60 per gallon, according to AAA, bringing the increase this month to 62 cents. Before this run-up, the average had held below $3 for 13 straight weeks—the first time in $2 territory since 2021.

Since gasoline prices don’t move in lockstep with crude oil prices, rapid increases in energy markets can continue filtering through to drivers for days or weeks.

Read the full article here.

–Sabrina Karl

Republicans Propose Cutting Capital Gains Taxes on Home Sales to Boost the Housing Market

FROM 20 hr 37 min ago

Republican lawmakers are proposing a big change to how capital gains are calculated when people sell their homes.

In a recent letter penned to Treasury Secretary Scott Bessent, eight Republican members of Congress—some of whom are members of the Real Estate Caucus—asked Bessent to use “executive authority” to index capital gains to inflation. According to a CNBC report, Republican Senators Ted Cruz (R-TX) and Tim Scott (R-SC) sent a similar letter to Bessent this month.

“Families who purchase a home or small real estate investment often hold that asset for many years or decades. Over long holding periods, a substantial share of the nominal gain may reflect inflation rather than true increases in real value,” wrote the lawmakers. “Taxing these phantom gains can discourage housing mobility, lock up housing supply, penalize long-term homeowners, and distort real estate investment decisions.”

Currently, homeowners may be eligible to exclude up to $250,000 (or up to $500,000 if they file a joint return with a spouse) worth of capital gains from their income when they sell their primary residence. That means that if a homeowner has a realized gain of more than $250,000, the amount above that limit would be subject to capital gains tax.

Read the full article here.

–Trina Paul

A Shoe-Company Stock Is Snagging Headlines. Thank Tariffs—and President Trump

FROM 21 hr 26 min ago

Why have shares of a company called Weyco been hot this month? It’s gotta be the (president’s) shoes.

Milwaukee-based Weyco Group (WEYS), which owns shoe brands like Nunn Bush and Forsake, were up some 10% in March through yesterday’s close. (They’re down today; read Investopedia’s full coverage of Thursday’s trading here.)

Some of that can be attributed to the interest of a particularly powerful shoe shopper: President Donald Trump, who—according to a recent article in The Wall Street Journal and shoebox-loads of follow-up coverage—is a fan of the company’s Florsheim brand. Trump, the story goes, not only likes Florsheims himself but routinely shells out his own money to buy them for staffers, commentators and congressmen.

Weyco, shares of which are up about 10% over the past 12 months, could perhaps use the lift. The company earlier this month said fourth-quarter sales fell year over year as the company raised prices and saw lower North American wholesale volume.

–David Marino-Nachison

McDonald’s Plans New $3 Menu, In Latest Bid to Win Customers With Better Deals

FROM 22 hr 23 min ago

McDonald’s is intensifying its focus on value with plans for a new menu.

The fast-food giant could be set to launch a $3 and under menu next month, as well as a range of $4 breakfast combos, The Wall Street Journal reported Wednesday.

The $3 and under menu could include the fast-food chain’s popular four-piece chicken McNuggets, its sausage biscuit, and other items, the report said, while the breakfast deal could feature options such as a McMuffin, hash brown, and coffee for $4.

McDonald’s did not respond to an Investopedia request for comment in time for publication.

Read the full article here.

–Aaron McDade

Energy, Utilities Sectors Lead S&P 500 on Down Day

FROM 22 hr 48 min ago

The S&P 500 is down more than 1% on a dismal day of trading, but not every industry is struggling.

The S&P 500 Energy and Utilities Sectors are up a respective 1.8% and 1.4% in recent trading.

Just three of the 11 industries tracked by the benchmark index are in the green, with Consumer Staples ticking 0.1% higher.

Six of the eight sectors in the red are down at least 1%, with Industrials the biggest decliner at 1.9%.

Honda Becomes Latest Automaker to Project Massive Hit in Pivot Away From EVs

FROM 23 hr 57 min ago

Another auto giant is pivoting away from electric vehicles amid a number of changes in the U.S. market.

This time it’s Honda Motor Company (HMC), whose U.S.-listed shares sank this morning after the Japanese automaker told investors it’s pivoting away from electric vehicles, and expects to take a big hit while doing so. The move follows similar announcements in recent months from other automakers, including Stellantis (STLA), Ford (F), and General Motors (GM).

Honda said Thursday that it expects to take on charges of up to 2.5 trillion Japanese yen ($15.75 billion) in its fiscal year ending March 31 as part of the transition. Honda cited the expiration of EV tax credits in the U.S. and President Trump’s tariffs as factors in the decision, as they have made it much more difficult to sell cars profitably in the U.S.

Read the full article here.

–Aaron McDade

Fertilizer Stocks CF Industries, Mosaic Continue Surge Amid Iran War

March 12, 2026 10:20 AM EDT

Shares of fertilizer producers CF Industries Holdings (CF) and Mosaic (MOS) continue to rise since fighting broke out in the Middle East.

CF Industries shares rose nearly 7% to a fresh all-time high Thursday morning, while those of Mosaic added 5%.

Fertilizer manufacturers stand to benefit from rising prices due to the halting of traffic through the Strait of Hormuz, with The Fertilizer Institute noting that nearly 50% of global urea exports and global sulfur exports originate from countries west of the Strait and transit through it.

CF Industries shares are up about 65% year-to-date, while those of Mosaic are about 27% higher, with gains accelerating since the U.S. and Israel attacked Iran on Feb. 28 and Iran essentially closed traffic through the Strait of Hormuz.

A New Study Says Americans Are Embracing ‘Financial Nihilism’ as They Try to Keep Up. Here’s What That Means

March 12, 2026 09:57 AM EDT

The stock market has reached record highs this year—but some Americans think they’ll need to supercharge their portfolio with risk to meet their financial aims.

Nearly three-quarters of Americans who felt financially behind expressed feeling “financial nihilism,” according to a Northwestern Mutual survey of more than 4,300 adults. The term, the company said, refers to the belief that particularly high-risk moves—including cryptocurrency, betting and prediction markets—can better help them reach their goals than more traditional methods, like index and target-date funds.

Americans have in recent years faced a slowing labor market, rising higher education costs, and a competitive housing market, factors that may be influencing their relationship with money. Gen Z, the oldest who are 29, and Millennials were the most likely to feel this way, according to Northwestern Mutual.

“When people feel behind, they often look for shortcuts,” said John Roberts, a chief field officer at Northwestern Mutual, in a press release. “But building financial security is rarely about cutting corners. It’s about consistency, discipline, and protection.”

In the survey, more than one-third of Gen Zers and Millennials said they had or were considering investing in cryptocurrency this year. Nearly a third of Gen Zers expressed a similar interest in sports betting and prediction markets.

Read the full article here.

–Trina Paul

From Eggs to Coffee: The Price Surprises Hiding in February’s CPI Report

March 12, 2026 08:56 AM EDT

The February Consumer Price Index (CPI) report was released Wednesday, showing overall prices rose 2.4% from a year earlier—the same annual pace as January.

But that steady headline number masks significant variation beneath the surface. Even as overall inflation has cooled, price changes across categories are far from uniform, with some falling sharply while others continue to rise.

For consumers weary of continually rising prices, there’s some good news in the February CPI report. While inflation remains elevated compared with the Federal Reserve’s target of 2%, several everyday categories actually cost less now than they did a year ago—and in a few cases, much less.

Read the full article here.

–Sabrina Karl

Firefly Aerospace Stock Soars on Successful Mission Launch

March 12, 2026 08:11 AM EDT

Firefly Aerospace (FLY) stock has tumbled since the space and defense technology firm went public last August. It looks like it will chip away at losses when markets open today.

Shares of Firefly Aerospace soared 12% before the bell Thursday, a day after the Cedar Park, Texas-based company announced it had successfully launched its Alpha Flight 7 Stairway to Seven mission from California’s Vandenberg Space Force Base.

“Alpha Flight 7 was flawlessly executed with all mission requirements completed, further proving the resiliency, innovation, and passion of the Firefly team,” Firefly Aerospace CEO Jason Kim said. “Over the last several months, we took a hard look at our processes across engineering, production, test, integration, and operations and invested the time required to make a series of improvements to ensure a higher level of quality and reliability in every Alpha we deliver and launch as we move to our Block II upgrade.”

Firefly Aerospace shares entered Thursday having lost nearly two-thirds of their value since the company’s initial public offering.

War Could Push Up More Than Just Gas Prices

March 12, 2026 07:46 AM EDT

You’ve seen the war-related surge in prices at the gas pump—expect to see price increases just about everywhere else before too long.

The 60-cent-per-gallon jump in gasoline prices since the war began is just the beginning, economists warned this week.

The war in Iran has restricted sea traffic through the critical Strait of Hormuz, choking off about 20% of the world’s oil supply and causing prices to spike. That’s translated into higher gas and, especially, diesel fuel costs. Diesel was $4.81 a gallon Wednesday, up $1.07 since March 1, Patrick DeHaan, head of petroleum analysis at Gasbuddy, posted on social media.

A surge in fuel prices isn’t just a surge in fuel prices. It can push up costs for everything that’s delivered by truck or uses vehicles and machinery, which, in the U.S., is just about everything.

Read the full article here.

–Diccon Hyatt

How the Iran War Could Affect Your Summer Airfare: What You Need to Know and When to Book

March 12, 2026 07:46 AM EDT

Book your summer flights now. That’s the advice of travel experts watching the cascading effects on airline fares from the Iran war.

Jet fuel has climbed more than a third above its prewar price, and airlines are already repricing summer routes in real time.1 United Airlines (UAL) CEO Scott Kirby warned the hit to ticket prices would “probably start quick.”2 Airfares were already increasing before hostilities began, jumping 6.5% in January alone.3 Now carriers are layering on fuel surcharges for international routes and hiking business-class fares first, knowing those travelers won’t blink.

The summer booking window you’d normally wait for—that 15-to-45-day sweet spot before departure—is probably too late this year, travel experts warn. Waiting is a gamble not just on unpredictable events in the Middle East but that airlines will lower prices they’re likely to raise in the meantime.

Read the full article here.

–Peter Gratton

Here’s How Much Adobe Stock Is Expected to Move After Earnings

March 12, 2026 06:56 AM EDT

Adobe is set to report earnings after the market closes Thursday, with traders anticipating a big move from the Photoshop maker’s stock following the results.

Based on current options pricing, traders expect Adobe (ADBE) stock could move up to 7% in either direction by the end of the week. A move of that size from Wednesday’s close could lift the stock close to $293, recovering some of its recent losses. The low end of that range could drag the stock below $255.

Adobe shares have lost about a fifth of their value since the year began, amid a broader pullback in software stocks on concerns about disruption from AI. Oppenheimer analysts downgraded Adobe’s stock in January, saying it exemplifies many of the major challenges facing the application software industry.

Jefferies analysts warned ahead of the results that they don’t see many catalysts appearing in the near term, and that Adobe could continue to face pressure from growing competition.

Adobe is projected to report adjusted earnings per share of $5.87 on a 10% year-over-year jump in revenue to $6.28 billion for it fiscal first quarter, according to estimates collected by Visible Alpha.

Wall Street analysts are divided on the stock. Of the 12 analysts with current ratings tracked by Visible Alpha, just five recommend buying the shares, compared to four neutral and three “sell” ratings. Still, their average price target of $368 would suggest nearly 35% upside from Wednesday’s close.

–Aaron McDade

Stock Futures Fall as Oil Prices Extend Surge

March 12, 2026 06:32 AM EDT

Futures contracts connected to the Dow Jones Industrial Average were down 0.5%.

S&P 500 futures were 0.4% lower.

Nasdaq 100 futures also pointed down 0.4%.